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Update: Wall Street Snaps 3-Day Losing Streak in Tech-Led Bounce

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Update: Wall Street Snaps 3-Day Losing Streak in Tech-Led Bounce

(Updates with market moves at the end of the day.)

US equities advanced Tuesday after a three-day slump, with chip stocks lifting the technology sector, even as oil prices rose amid heightened tensions in the Middle East.

The Nasdaq Composite climbed 1.3% to 25,837.21, while the S&P 500 gained 0.9% to close at 7,509.20. The Dow Jones Industrial Average rose 0.7% to 52,224.64. Barring consumer staples and communication services, all sectors ended in the green, led by tech's 2.4% gain.

Micron Technology (MU) was among the best performers on the S&P 500, up 12%, while Sandisk (SNDK) surged 14%, the index's top gainer. Intel (INTC) jumped 8.6%, while Nvidia (NVDA) rose 2%, among biggest gainers on the Dow.

"Stock traders today have shrugged off the news from the war in favor of buying the chip makers again, presumably on the hope that the (artificial intelligence) hyperscalers, when they report (second-quarter) earnings over the next few days, will also report large capital spending plans," Macquarie said Monday in a report. "That's hoped to boost the earnings outlooks for the hardware makers."

West Texas Intermediate crude oil was up 2% at $84.91 a barrel in Tuesday late-afternoon trade, while Brent rose 2.5% to $91.44.

The US will hit the area of Pickaxe Mountain "probably pretty soon," news outlets reported, citing President Donald Trump. The underground facility is reportedly believed to be connected to Iran's nuclear program.

Kuwait, Bahrain and Jordan intercepted Iranian aerial attacks on Tuesday, CNN reported. The US Central Command said Monday its forces had struck Iran again.

Two tankers carrying Saudi crude turned back in the Red Sea as Yemen's Iran-aligned Houthis threatened to strike vessels using Saudi ports, Reuters reported.

Treasury yields were higher, with the two-year rate up 4.9 basis points at 4.26% and the 10-year rate rising 3.2 basis points to 4.63%.

In corporate news, 3M (MMM) raised its full-year earnings outlook as the industrial conglomerate reported second-quarter results above Wall Street's estimates. The stock jumped 7.3%, the biggest gain on the Dow.

General Motors (GM) lifted its full-year profit guidance as the automaker recorded an unexpected year-over-year increase in its second-quarter revenue. The stock rose 4.9%.

Danaher (DHR) slid 11%, the worst performer on the S&P 500. The medical equipment maker raised its full-year profit guidance as its fiscal second-quarter results came in stronger than expected, but it lowered the top end of its 2026 revenue growth outlook.

Gold advanced 1.8% to $4,088.40 per troy ounce, while silver climbed 3.5% to $59.05 per ounce.

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